headlines...by halloapp

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01-06-2024

TECH

• Microsoft is closing in on Apple as the most valuable company in the US, with a $100 billion difference in market cap. Apple’s value has declined by $160 billion this year due to sluggish sales and potential antitrust pressures.

• The US Department of Justice is investigating Apple’s potential antitrust violations, including its control over iMessage and other services. A lawsuit could be filed soon.

• Foxconn, the world’s largest iPhone assembler, reported a decline in revenue for December and Q4 2023, and expects a drop in Q1 2024 revenue due to weak global consumer electronics demand and sluggish iPhone sales.

• Verizon customers charged an “administrative charge” may get compensation from a $100 million settlement, with claims due by April 15, 2024.

• Jefferies downgrades Palantir to “Underperform” due to unsustainable valuation, lack of AI boom, and concerns over monetization strategy.

• Bank of America predicts Nvidia’s stock will rise 42% by 2024 as the company targets $100 billion in free cash flow through recurring revenue and AI semiconductor sales.

• Perplexity AI, a Jeff Bezos-backed startup, plans to challenge Google with its AI-based search engine that provides personalized answers and real-time information.

MEDIA

• Unsealed court documents in the Jeffrey Epstein case reveal high-profile names including David Copperfield and shed light on his powerful connections.

• South African Olympian Oscar Pistorius released on parole after serving nearly nine years for killing girlfriend Reeva Steenkamp.

• Netflix is looking to monetize its gaming offerings through in-app purchases, paid games, and in-game advertising in 2024.

• MIT professor Neri Oxman, wife of billionaire Bill Ackman, apologizes for plagiarism in her doctoral dissertation, prompting a review of faculty work for plagiarism.

CONSUMER

• Peloton’s stock rose after announcing a partnership with TikTok to create a fitness hub, but experts have mixed opinions on its impact.

• Franklin Covey Co. exceeds earnings expectations in Q1 2024 with strong revenue and adjusted EBITDA, expects significant growth.

• 29-year-old Frederic Arnault, son of billionaire Bernard Arnault, has been appointed as CEO of LVMH’s watch division, overseeing brands like TAG Heuer and Hublot.

REAL ESTATE

• London house prices fell by £12,000 in 2023, while UK house prices rose for the third consecutive month in December.

• Buffalo, NY is expected to be the hottest housing market in 2024, with Cincinnati, Columbus, and Cleveland also making the top 10 list, according to Zillow.

ECONOMIC

• National Bank of Canada offers a wide range of financial products and services to clients in Canada and internationally.

• Power Financial Corporation is an international management and holding company that provides financial and asset management services in Canada and internationally. They offer insurance, investment, and advisory services, as well as record keeping and administrative services. The company operates in various industries and is a subsidiary of Power Corporation of Canada.

• New York Attorney General Letitia James is seeking $370 million in penalties from Donald Trump in a civil fraud trial.

• Eurozone inflation rose to 2.9% in December, potentially reducing pressure on the European Central Bank to cut interest rates.

CRYPTO

• Bitcoin price surpasses $45,000, driven by anticipation of crypto ETF launches and speculation of their potential approval.

• Ark Invest, led by Cathie Wood, has allocated over 15% of its $16.5 billion portfolio to Coinbase and UiPath, both growth stocks.